Bajaj Auto set to be top stakeholder in Austria's KTM with €800 mn funding
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Bajaj Auto, through its fully owned subsidiary Bajaj Auto International Holdings BV (BAIHBV), will become the majority owner of Austrian motorcycle brand KTM, the company said in an exchange filing on Thursday.
Bajaj is moving from being a minority stakeholder to taking control of KTM, strengthening its position in the premium and sports motorcycle segment. The company said the move will help it grow further in the global motorcycle market.
To support this transition and KTM’s business revival, BAIHBV has arranged €800 million in debt funding. This funding will help with KTM’s debt restructuring, which has been approved by the Austrian court, and provide working capital for the company’s operations.
Out of the total amount, €200 million has already been infused, and the remaining €600 million is now being disbursed, Bajaj Auto confirmed.
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